Protein Engineering Market Set to Soar Past USD 7.62 Billion by 2030
The global Protein Engineering market size is expected to reach USD 7.62 billion by 2030 and exhibit a CAGR of 16.60% in the forecast period (2023−2030), according to Skyquest’s latest research report. The increasing demand for biopharmaceuticals and personalized medicine, advancements in genomics and proteomics research, the need for novel enzymes and proteins in various industries, such as healthcare and food production, growing investment in research and development, the potential for improved therapeutic outcomes and reduced side effects, and the expanding applications of protein engineering in drug discovery and development are fueling the market’s growth.
Westford, USA, Feb. 02, 2024 (GLOBE NEWSWIRE) — According to SkyQuest’s latest global research of the Protein Engineering market, the increasing use of artificial intelligence and machine learning in protein design and optimization, a focus on protein therapeutics for rare diseases and cancer treatment, the emergence of CRISPR-Cas9 technology for precision genome editing, a growing interest in protein-based vaccines and immunotherapies, advancements in structural biology techniques for understanding protein structures, and the exploration of alternative protein sources and engineering for sustainable food production are the trends that aid in the market’s growth.
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Browse in-depth TOC on “Protein Engineering Market”
- Pages – 157
- Tables – 92
- Figures – 74
Protein engineering is the process of designing and producing proteins with new or improved properties. This can be done by altering the amino acid sequence of a protein or by creating new proteins from scratch. Protein engineering is a powerful tool for developing new and improved drugs, vaccines, and other biological products.
Prominent Players in Protein Engineering Market
- Thermo Fisher Scientific
- Danaher Corporation
- Agilent Technologies
- Bio-Rad Laboratories
- Merck KGaA
- Bruker Corporation
- Genscript Biotech Corporation
- GE Healthcare
- Creative Biolabs
- Twist Bioscience
- Zymo Research
- Promega Corporation
- New England Biolabs
- Proteintech Group
- Abcam plc
- Takara Bio
- Hamilton Company
- Molecular Devices
- Bio-Logic Science Instruments
- Biacore Life Sciences
Browse summary of the report and Complete Table of Contents (ToC):
Monoclonal Antibodies (mAbs) Demand to Grow Substantially in the Forecast Period
Monoclonal Antibodies (mAbs) dominate the global online market as they are extensively used in the treatment of various diseases, including cancer, autoimmune disorders, and infectious diseases. Their high specificity and ability to target specific molecules make them valuable in precision medicine. Additionally, advancements in antibody engineering techniques have led to the development of highly effective and customized therapies.
Drug Development is the Leading Application Segment
In terms of application, the drug development is the leading segment due to the crucial role of engineered proteins in the development of novel biopharmaceuticals. Engineered proteins, including monoclonal antibodies and therapeutic enzymes, are used in the treatment of a wide range of diseases, including cancer, autoimmune disorders, and rare genetic conditions. As the pharmaceutical industry continues to focus on biologics and precision medicine, the demand for protein engineering solutions remains high.
North America is the leading Market Due to the Technological Advancements
Region-wise, North America is one of the largest growing markets with a huge emphasis on technological advancements. The strong pharmaceutical and biotechnology industry, well-established research institutions, and significant investments in research and development. The United States is a leader in drug development and biopharmaceuticals, driving demand for protein engineering solutions. Additionally, collaborations between academia and industry have fostered innovation in the region.
A recent report thoroughly analyzes the major players operating within the Protein Engineering market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavors to develop innovative solutions that cater to the ever-increasing demand for Protein Engineering.
Key Developments in the Protein Engineering Market
- In April 2023, Scribe Therapeutics, a biotechnology company, announced a strategic partnership with Beam Therapeutics to develop next-generation CRISPR technologies for protein engineering. The collaboration aims to enhance the precision and efficiency of gene editing techniques for therapeutic applications.
- In March 2023, Arzeda, a protein design company, raised $63 million in a Series C funding round. The funding will accelerate the development of Arzeda’s protein design platform and expand its capabilities in protein engineering for industrial applications.
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Key Questions Answered in Protein Engineering Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market’s future growth?
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